The Consequences of Overfishing

881 Words2 Pages

Overfishing

Introduction
A significant of fish acquired is called overfishing, the problem with this definition stems from the poor insight into mechanisms that regulate recruitment. Firstly, the approach that considers occurrences of overfishing when the stock was 1/50th of the abundant biomass (Beverton et al., 1994). The second type examines the catch and the population growth rate (Schaefers, 1954). The catch rate exceeds the population growth rate and the population growth declines. This occurs when fish are caught at too young, an age such that the individuals achieve only a small percentage of their potential growth. The last type is longevity overfishing, the virtual elimination of older age classes in a population such that this removal impairs recruitment, which would prevent a population from rebuilding. It is first necessary to explain how overfishing can arise in a market, then we will examine government interventions which will result in an optimal level of fishing. Finally, we will compare the policy options of individual transferable quota and fisheries closures.
People have engaged in fisheries for thousands of years. Capital and labour have grown, which caused the productivity to increase. Simultaneously with an increase in oceanic navigation gave this the opportunity to an incrementing production.
Until the late 1970s fish stock could be considered common property, fisheries where managed as open access resources, each potential user has complete autonomy in utilizing the resource. Economic theory predicts that under conditions of an open access natural resource will be exploited, until total costs equal total revenues. (Gordon, 1954; Schaefler, 1957; Bjorndal and Conrad, 1987). This implies that, as long a...

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